5-1 Planning Your Financial Services | Instruction

What is one of the main benefits of digital banking?

• It requires visiting the bank.

• It allows for online and mobile access.

• It is slower than traditional banking.

• It only works with cash payments.

What is a common mistake people make when managing their daily money needs?

• Spending less than they earn.

• Saving too much money.

• Using savings for daily expenses.

• Investing in their future.

Which of the following is a type of financial service that helps with savings?

• Personal loans

• Checking accounts

• Savings accounts

• Credit cards

What is a potential downside of using online banking?

• It offers no convenience.

• It is always free of charge.

• It requires no internet access.

• It can increase vulnerability to fraud.

What is a prepaid debit card?

• A card that allows unlimited spending.

• A card that requires a credit check.

• A card that is linked to a bank account.

• A card loaded with a specific amount of money.